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  • US data comes in stronger than expected...

    In This Issue..

    * US data comes in stronger than expected...
    * Worries over Greece pushes dollar higher...
    * China grows at 11.9%...
    * Australia may look to pause?...

    Good day, it is tax day which is not usually a happy day for the 51% of the folks who have to pay the taxman. Chuck would take the opportunity to break into the Beatles song right now, but I'm not as good with lyrics, so you will just have to hum it in your head. The dollar was down in trading yesterday, as most of the data released was positive and emboldened traders to move money out of safe havens. But overnight the Asian markets decided to take the dollar higher, and the Europeans are continuing to buy greenbacks. I'll get to what caused the big change in a second, but first I will review all of the data we got yesterday morning....
  • US Dollar drifts, waiting for direction...

    In This Issue..

    * Dollar drifts waiting for direction...
    * How to profit from China's next move...
    * Brazil's real predicted to rise 10%...
    * An update from Chuck...

    Good day, and welcome to Tuesday. The Cardinals brought home a winner for the huge crowds down at Busch Stadium yesterday. As I mentioned, opening day is holiday around St. Louis, and Albert Pujols and his teammates gave the fans a terrific show. Currency traders seemed to take the day off yesterday along with thousands of Cardinal fans. The dollar drifted through the day, and continued to trade sideways in overnight trading in Asia....
  • The Bias To Buy Dollars Remains In Place...

    In This Issue..

    * The dollar continues to get bought...
    * The A$ gets rocked!
    * Riksbank keeps rates unchanged...
    * 10-year yields inch higher once again...

    Good day... And a Wonderful Wednesday to you! The end of the line, so-to-speak for me until after Christmas, as I begin my winter vacation tomorrow. Yesterday, I told you about having a conversation with one of my fave economists on Monday night. Well, she told me that she was worried about me. That when she reads the Pfennig, I sound like I'm too stressed out, and taking this stuff to personally. She said she was afraid I was going to have a heart attack writing the Pfennig one day!

    WOW! OK... So here's the deal today, my last Pfennig before Christmas... I'm not going to talk about the deficit spending fools in Washington D.C., I'm not going to talk about the national debt, I'm not going to talk about anything that gets my feathers ruffled... It's all seashells and balloons for yours truly today!...
  • We Won't Get Fooled Again!

    In This Issue..

    * Bernanke digs out some old words...
    * Risk on, Risk off...
    * Brazil to have a different meeting outcome?
    * Winter Olympics are in Canada...

    Good day... And a Terrific Tuesday to you! What a ride on Mr. Toad (Bernanke's) Wild Ride yesterday for the currencies! Gold? Well, at one point in the day, Gold had shot up $24 on the day! It topped out at $1,142... The shiny metal then gave some back on profit taking, but Whew! Gold holders have got to love it! Those that keep waiting for a pull-back... Well, they might be still waiting when the cows come home...

    Yesterday, we had a couple of Fed Heads talking, but the Big Kahuna, stood out, and moved the markets with his statements... Here's the skinny......
  • Desperately Seeking Yield...

    In This Issue..

    * Currencies rally...
    * More on the BRIC's...
    * New Zealand's GDP contracts..
    * Bernanke gets grilled!

    Good day... And a Happy Friday to one and all! The end of what seemed to be a very long week... The last weekend in June, can you believe that? Next week, we'll be getting ready for the 4th of July celebrations! WOW!

    Well... What a volatile week it has been in the currencies! Up, down, all around, and settling back to levels that we saw before the Fed's FOMC meeting earlier this week. Suddenly, investors are looking for yield again... Looks like they are "Desperately Seeking (not Susan) Yield! And why not? The Fed, and the Bank of Canada (BOC) have come out and said that there will be no interest rate hikes until we've turned quite a few pages on the 2010 calendar....
  • Throwing A Cat Among The Pigeons Again!

    In This Issue..

    * Russia's Fin Min talks up the dollar!
    * Currencies, commodities, stocks all lose ground...
    * Who's car is uglier
    * Gold hit a 3-week low...

    Good day... And a Marvelous Monday to you! How about that weekend? I actually didn't get a chance to experience much of it outside, but it sure looked great! We have new champions in basketball and hockey, so congrats to the Lakers and Penguins on their Championships! Now, the housecleaning is out of the way... It's time to get to the meat... Where's the beef? HA!...
  • Maybe, Just Maybe A Break In The Link?

    In This Issue..

    * Currencies consolidate...
    * Brazil posts a surplus!
    * Dr. Marc Faber speaks...
    * High yielders rule!

    Good day... And a Wonderful Wednesday to you! A very tight trading range day was in place yesterday for the currencies... In yet another sign that maybe, just maybe, because you never know, the currencies could be breaking their link to stocks... U.S. stocks jumped 196 points yesterday, and the currencies range traded... Hmmm....

    Not that this will become a 'stock jockey journal'... Stocks jumped on the news that Consumer Confidence surged this month... Talk about looking at things through rose colored glasses! Any way, Consumer Confidence surged... Better to have blips in Confidence than to be all negative all the time I guess! I also guess the stock jockeys took what was behind door number 1 (consumer confidence) and not was what behind door number 2, which was the Case-Shiller House Price Index......